Starbucks offers charging stations for mobile devices

Intel President Renee James delivers the keynote speech at the opening of Computex in Taiwan last week.

Intel President Renee James delivers the keynote speech at the opening of Computex in Taiwan last week.

Photo: Wally Santana, Associated Press

Photo: Wally Santana, Associated Press

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Intel President Renee James delivers the keynote speech at the opening of Computex in Taiwan last week.

Intel President Renee James delivers the keynote speech at the opening of Computex in Taiwan last week.

Photo: Wally Santana, Associated Press

Starbucks offers charging stations for mobile devices

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RESTAURANTS

Charge devices at Starbucks

Soon you may not have to fumble or fight for a power outlet to charge your phone at your neighborhood Starbucks.

Starbucks and Duracell are rolling out Powermat wireless charging devices in stores in San Francisco. The charging spots will expand into other major markets in 2015, and the companies plan to put the devices in all Starbucks and Teavana locations over time.

The companies say stores will have Powermat Spots, designated areas on tables and counters where customers can put their compatible smartphones and charge them wirelessly.

Most smartphones and devices on the market now are not compatible with the Powermat stations, although some with the built-in capability are starting to emerge, according to IHS, a market researcher. People can also buy Powermat accessories to charge devices that aren't compatible, Starbucks noted.

Some Starbucks Corp. locations in Boston and San Jose already have Powermat devices.

Powermat formed a joint venture with Duracell in 2011. Duracell is a unit of Procter & Gamble.

ENERGY

Oil prices rise on Iraq unrest

The price of oil jumped Thursday as an insurgency in Iraq raised the risk of disruptions to supplies at a time when other major oil-producing countries are already pumping near capacity.

The al Qaeda-inspired group that captured two key cities in Iraq this week vowed Thursday to march on to Baghdad.

One of those two cities, Mosul, lies in an area that is a major gateway for Iraqi oil. While the loss of the city has no immediate effect on oil exports, now at over 3 million barrels a day, it adds to concerns over security and the country's plans to expand oil production.

West Texas Intermediate, the benchmark U.S. oil, rose $2.13, or 2 percent, to close at $106.53 per barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils, rose more sharply, gaining $3.07, or 2.8 percent, to $113.02 per barrel on the ICE Futures exchange in London.

Analysts say the uncertainty of the situation in Iraq raises the chance of further increases in oil prices.

CHIPMAKERS

EU upholds big Intel fine

A top European court Thursday upheld a record fine of $1.4 billion imposed five years ago on Intel, the world's largest computer chipmaker, by Europe's top antitrust authority.

The European Commission levied the fine in 2009 after it accused the Santa Clara company of abusing its dominance in the computer processor market by offering rebates to computer-makers who used its chips more than other brands.

It was the highest single antitrust penalty that the authorities in Brussels have levied on a single company. Intel still can appeal the case to Europe's highest court, the European Court of Justice.

The company had been appealing a decision that found it had offered illegal rebates to computer makers that used fewer or no chips made by its main competitor, Advanced Micro Devices.

The commission, which had been investigating Intel since 2000 after a complaint by AMD, issued two sets of formal charges in 2007 and 2008.

Intel has repeatedly said that it did nothing wrong and that its rebates and discounts were legal and a common way to reward companies for purchasing products in large quantities.

The decision to impose severe punishment on Intel was another reminder of how European regulators have emerged as some of the world's staunchest enforcers of antitrust laws, and it was a signal that global authorities were gearing up to raise the stakes for the biggest technology companies.

In the ruling Thursday, the court endorsed the commission's approach. The authorities had said that the way Intel granted so-called exclusivity rebates to gain the loyalty of manufacturers like Dell and Lenovo was anticompetitive and did not require further proof to be deemed illegal.

RETAIL

Bebe Stores CEO resigns

Birkhold had served as CEO since 2013. Jim Wiggett, CEO of consulting firm Jackson Hole Group who has been advising the company for five years, will be CEO on an interim basis as the company seeks a permanent successor.

Bebe has been dealing with tough competition and declining mall traffic. In its most recent quarter, it reported a net loss but revenue beat analysts' expectations. Sales in stores open at least one year fell 1.9 percent during the company's fiscal second quarter, which included the key holiday selling season.

Bebe operates 227 stores in the United States, U.S. Virgin Islands, Puerto Rico and Canada. The company also distributes and sells products through its licensees in about 26 countries.

FEDERAL RESERVE

Senate confirms 3 nominees

The Senate has confirmed President Obama's nomination of Stanley Fischer to be vice chairman of the Federal Reserve, while also approving Lael Brainard and Jerome Powell to serve on the Fed's board.

The Thursday votes filled vacancies just before a meeting of the central bank's policy panel next week.

The Senate voted 63-24 to approve the nomination of Fischer, a former head of the Bank of Israel, to the Fed's No. 2 post. Brainard, a former Treasury undersecretary for international affairs, was approved on a 61-31 vote, and Powell won a second term on the Fed board on a 67-24 vote.

The Senate's action means five of the seven Fed board seats have now been filled in advance of a meeting of the central bank's interest-rate committee Tuesday and Wednesday. Obama has yet to announce his nominations for the other two vacancies.

Fischer was approved last month as a Fed board member but his nomination to be vice chairman was held up, as were the other two board nominations, by Sen. Rand Paul. The Republican from Kentucky delayed the nominations in an effort to win a Senate vote on his bill giving Congress more oversight over the central bank's actions. He voted no on all three nominations Thursday.

MORTGAGES

30-year loan rates inch up

Average rates on fixed mortgages rose for a second straight week but remained near historic lows.

Mortgage buyer Freddie Mac said Thursday the average rate for a 30-year loan increased to 4.20 from 4.14 percent last week. The average for the 15-year mortgage jumped to 3.31 from 3.23 percent.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn't include points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for a 30-year mortgage rose to 0.6 from 0.5 of a point a week earlier. The fee for a 15-year loan held steady at 0.5 point.

The average rate on a one-year adjustable-rate loan was unchanged at 2.40 percent.

The average rate on a five-year adjustable mortgage jumped to 3.05 from 2.93 percent.